Doesn't it make you wonder how much the redesign cost and if it benefits us as a taxpayers whatsoever? Several Web sites I read claim that it costs anywhere from 1.2 to 1.4 cents to make an individual copper-plated zinc penny.
So, if it costs more to produce a coin than what it's worth, what's the point?
A letter to the editor on the Daily Herald's web site has some good points:
"The costs associated with redesigning and reissuing the penny, instead of simply retiring it, are nothing compared with staggering deficits, trade imbalances and bailouts that are going on."
Another site I read said that five billion pennies, which is worth $50 million, will cost about $70 million to make.
I don't know about you, but $20 million is a lot of dough to waste.